The NZ US Council has joined with other business organisations promoting Trans Pacific Partnership (TPP) trade negotiations ahead of this weekend's Apec summit in Japan.Japan has been slow in advancing TPP negotiations, but member countries are expecting
The NZ US Council has joined with other business organisations promoting Trans Pacific Partnership (TPP) trade negotiations ahead of this weekend's Apec summit in Japan.
Japan has been slow in advancing TPP negotiations, but member countries are expecting some action when discussions take place in Yokohama.
While it has indicated a willingness to loosen its tight trade barriers, the Japanese government faces strong internal opposition to lifting its prohibitive tariffs on agriculture-related imports.
Prime Minister John Key has made it clear that Japan would be limited in its ability to dictate terms of a TPP agreement and that agriculture would have to be included.
"The critical issue from New Zealand's point of view is we'd like to see them inside the tent. But if they are going to be there we want a high quality comprehensive agreement," he said.
"We don't want them being a sea anchor slowing us down while we are negotiating with the other eight countries"
NZ US Council executive director Stephen Jacobi said about 80 business leaders and officials attended a seminar in Yokohama last night, including representatives from the Singapore Business Federation and the US APEC Business Coalition.
"Our three organisations strongly support an ambitious outcome from the TPP negotiations, one that can provide a new framework for expanding trade and investment and be a means by which the Free Trade Area of the Asia Pacific can be brought into being," he said.
Mr Jacobi said the TPP was a huge opportunity to reduce business costs and increase the ease of doing business in the region.
Representatives said a quality agreement would create new business opportunities, increase profitability and help accelerate the pace of economic recovery.
New Zealand officials are cautiously optimistic that Japan will show a willingness to join the TPP on agreeable terms, and have said the country risks falling behind its Pacific neighbours if that doesn't happen.
